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Insurance premium tax boosts state revenue

JACKSON – The 3 percent tax on all insurance premiums sold within Mississippi was a key factor in making July a good month for state revenue collections.

For the month of July, the first of the new fiscal year, revenue on the insurance premium tax was $14.3 million or 54 percent above the amount collected in July 2016.

And the $40.7 million total collected in the insurance premium tax was 70.8 percent above the official estimate.

Daily Journal

Posted August 7, 2017 - 6:21 am

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